South Korea: Economic freedom, overall index

The latest value from 2024 is 73 index points, a decline from 74 index points in 2023. In comparison, the world average is 59 index points, based on data from 174 countries. Historically, the average for South Korea from 1995 to 2024 is 71 index points. The minimum value, 66 index points, was reached in 2005 while the maximum of 75 index points was recorded in 2022. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: The Overall index of economic freedom has ten components grouped into four broad categories: Rule of Law; Limited Government; Regulatory Efficiency and Open Markets. The overall economic freedom is scored on a scale of 0 to 100, where 100 represents the maximum freedom.